Dec. 30, 2011: U.S. HVAC Demand to Increase 5.1 Percent Annually Through 2015
CLEVELAND — According to a new study released by The Freedonia Group, demand in the United States for HVAC equipment is projected to increase 5.1 percent annually to $16.8 billion in 2015. Advances will be stimulated by growth in residential and many types of nonresidential construction spending from a low 2010 base. Rising interest in more energy-efficient HVAC systems, in part spurred by regulatory changes, will also support increased demand, particularly in value terms given that more efficient systems and those using less environmentally harmful refrigerants are typically priced at a premium. In addition, public and private incentives will encourage owners to upgrade to models with efficiency ratings that are at or above Energy Star levels.
Unitary air conditioners are the largest segment of the cooling system market, accounting for nearly three-quarters of the total in 2010, says The Freedonia Group. Demand for unitary systems is expected to increase at an above-average pace, benefiting from the continuing development of higher-efficiency models and from gains in the share of homes with central air conditioning. The cooling equipment industry is affected by a variety of regulations, including those involving ozone-depleting hydrochlorofluorocarbon refrigerants. For example, in 2010 the production and import of HCFC-142b and R-22 were banned, although the government permitted a declining allocation of R-22 to service existing equipment until production is completely banned in 2020.